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All About NFTs: Part One

What's going on in the NFT ecosystem? Let's find out in this Stockpile Superstars.
Stockpile Superstars
Originally Posted On: May 5th, 2023

GM everyone, and Happy Cinco De Mayo! We're back with Stockpile Superstars, a roundup of the best ecosystem projects you may not have heard of.

Today, we're diving into the world of NFTs, and looking at some solutions for trading and royalties. The NFT community is the lifeblood of the Solana ecosystem, quickly becoming one of the top use-cases for the chain. With the recent MadLads mint, the community overtook Ethereum in volume for a short period, and the excitement for NFTs in the broader community was re-energized. Just take a scroll on Twitter and see how many of their PFPs you see! It isn't a hot take to say Solana loves NFTs. So let's take a look at a few projects contributing to the explosive innovation in this sector!

Sujiko Protocol

NFT perpetual futures DEX. Sujiko is a derivatives protocol focused on enabling on-chain perps for highly liquid NFT collections, giving users the ability to take directional positions akin to Binance perps. Sujiko gives a user exposure to blue-chip NFTs for as little as $1. This is achieved through three liquidity mechanisms: a global vAMM (Virtual Automated Market Maker), a decentralized orderbook, and an auction mechanism for market orders. Here's a quick breakdown of the big three:

  • Core vAMM: This is their primary liquidity source, but it will eventually serve as a backstop as other mechanisms go live. The vAMM implements the tried and true constant product algorithm while featuring artificial spreads and fees adjusted for inventory. This means that fees will increase as the protocol takes on more exposure to a particular NFT, and the quoted price will decouple from the index price.

  • Decentralized Limit Orderbook (DLOB): The DLOB is a virtual, on-chain orderbook that enables other order types, such as limit orders. This is achieved through off-chain crankers and on-chain settlement, where new orders are streamed off-chain, orders are matched, and crankers process locally and submit to the chain. After which, the cranker is rewarded a small fee.

  • Just In Time (JIT) Auctions: This system auctions taker orders before they are routed to the vAMM. A user submits a market order, and the system attempts to match the order in the orderbook. If there are no matching orders, or if it is partially matched, the outstanding size is entered in a Dutch Auction with a start time, a specific start price corresponding to the oracle price, an end price coinciding with the vAMM quote price, and a duration that is fixed to five seconds. Market makers then compete to fill the user's order at a price better than or equal to the current auction price. If the order is not filled by a MM within the duration, it is routed to the vAMM.

Sujiko is leading the way in NFT financialization while taking every step to emphasize risk management and sufficient liquidity. Their innovations go far beyond the surface level, creating a platform democratizing blue-chip NFT investing. Every NFT trader, both novice and experienced, should give them a try.


Seamless Royalty Solution for NFT communities. Royalties were recently a hot topic in the ecosystem, with the catalyst being the marketplace Yaw launching an optional royalty system. This paradigm costed creators 75% of their royalties on average, sparking the discussion of royalty enforcement. For many projects, royalties are essential to ensure a consistent revenue stream, ultimately funding their roadmap. This is where Re:naissance comes in. Re:naissance is an xNFT that guarantees an easy royalty payment and redemption process for creators and their communities. This is achieved through integration with Matrica, enabling their program to recognize if royalties have been paid post-sale and add specified Discord roles to those holders. Additionally, the system includes a suite of APIs, and analytics to track royalty revenue, all for an affordable fee. Re:naissance gives your project the tools to integrate royalty-loyalty across your entire ecosystem.

Their thesis is that holders are happy to pay royalties if there is an incentive. This could mean exclusive airdrops, discord roles, product discounts, and more. If you're an NFT creator, and looking for an ecosystem-friendly solution for royalty enforcement, then Re:naissance is a no-brainer. If the popular collection LILY isn't enough proof for you that they're legit, then we don't know what is.

and that's it for this week! Consider giving these platforms a try, and see what the hype is about. Solana is on the forefront of NFT innovation, and projects like these are part of the reason why. We look forward to potentially doing a second issue for NFTs, because there is just that much to cover.

Thanks for reading, and stay tuned for next week's issue!